Using the 2008 Survey of Chinese Consumer Finance and Investor Education and the 2007 Survey of Consumer Finances, this study compared saving motives between Chinese and American urban households. Results showed that, compared with their American counterparts, Chinese households were more likely...

Financial counseling and education becomes more important in the recent economic crisis. Financial ratios quantify household financial well-being and can provide a quick and easy way to identify household financial strengths and weaknesses. Using the survey method, this study investigates the...

Investment in the securities markets is vital to households' wealth accumulation and financial security. Using data from the 2008 Survey of Chinese Consumer Finance and Investor Education, we found that self-assessed investment knowledge and having a long-term financial plan were positively...

This paper studies the how financial decision power is allocated within a household and how it is related to wealth production. Evidence from the Health and Retirement Study (HRS) shows that both the absolute and relative values of husband's and wife's personality and cognitive ability predict...

The purpose of this study was to explore potential effects of financial education on the financial capability of American consumers. Data from the 2012 National Financial Capability Study were used to test the hypothesis that financial education is positively associated with financial...